Bank of America Corp DE Purchases 45,854 Shares of SFL Co. Ltd. (NYSE:SFL)

Bank of America Corp DE increased its holdings in SFL Co. Ltd. (NYSE:SFL - Free Report) by 36.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,025 shares of the shipping company's stock after purchasing an additional 45,854 shares during the period. Bank of America Corp DE owned approximately 0.12% of SFL worth $1,758,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Signaturefd LLC lifted its position in SFL by 831.8% during the 4th quarter. Signaturefd LLC now owns 2,870 shares of the shipping company's stock worth $29,000 after acquiring an additional 2,562 shares during the last quarter. Jones Financial Companies Lllp raised its position in SFL by 41.9% in the fourth quarter. Jones Financial Companies Lllp now owns 3,220 shares of the shipping company's stock worth $33,000 after purchasing an additional 950 shares in the last quarter. Blue Trust Inc. raised its position in SFL by 64.6% in the fourth quarter. Blue Trust Inc. now owns 3,257 shares of the shipping company's stock worth $33,000 after purchasing an additional 1,278 shares in the last quarter. Sterling Capital Management LLC raised its position in SFL by 883.5% in the fourth quarter. Sterling Capital Management LLC now owns 3,275 shares of the shipping company's stock worth $33,000 after purchasing an additional 2,942 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in SFL in the fourth quarter worth about $89,000. 28.59% of the stock is currently owned by institutional investors.

SFL Price Performance

Shares of NYSE SFL traded down $0.01 during mid-day trading on Thursday, hitting $8.68. 684,310 shares of the stock were exchanged, compared to its average volume of 1,058,022. The company has a market cap of $1.26 billion, a P/E ratio of 8.59 and a beta of 0.51. The stock's fifty day simple moving average is $8.14 and its two-hundred day simple moving average is $9.31. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.50 and a current ratio of 0.38. SFL Co. Ltd. has a twelve month low of $6.78 and a twelve month high of $14.20.

SFL (NYSE:SFL - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The shipping company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.04. SFL had a net margin of 14.45% and a return on equity of 12.41%. The company had revenue of $186.74 million during the quarter, compared to analyst estimates of $183.82 million. During the same quarter last year, the business posted $0.36 earnings per share. The company's revenue was down 18.5% on a year-over-year basis.

SFL Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, June 12th will be given a dividend of $0.27 per share. The ex-dividend date is Thursday, June 12th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 12.45%. SFL's dividend payout ratio is 263.41%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of SFL from a "hold" rating to a "sell" rating in a research report on Thursday, February 13th.

SFL Profile

SFL Corporation Ltd., a maritime and offshore asset owning and chartering company, engages in the ownership, operation, and chartering out of vessels and offshore related assets on medium and long-term charters. The company operates in various sectors of the maritime, and shipping and offshore industries, including oil transportation, dry bulk shipments, chemical transportation, oil products transportation, container transportation, car transportation, and drilling rigs.